Neuchâtel Xamax football club appear to have found a solution to their financial problems after signing a provisional contract with the marketing firm, IMG Switzerland.This content was published on February 27, 2001 - 18:02
Following the start of talks between the two parties in January, a rescue plan has now been formulated under which IMG would take a majority share in the struggling club. However the agreement will only come into force if Xamax fulfil two conditions.
Firstly the side must avoid relegation to the Swiss second division (LNB). Secondly the club's stadium must be brought up to European standards by the town of Neuchâtel, which owns the ground.
If these two conditions are met, IMG intend to take up their majority share at the end of June.
Talks over a proposed deal with IMG were begun after an earlier agreement with Italian businessman Gian Paolo Bonora fell through at the start of the year.
swissinfo with agencies
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